New York does not let you use a one-size-fits-all approach to estate planning. The state has its own statutes, its own estate tax with a punishing cliff, and its own court system — which means a plan built for another state may quietly fail your family when it matters most. Morgan Legal Group, led by attorney Russel Morgan, Esq., serves clients across New York City, Long Island, Westchester, the Hudson Valley, and Upstate New York, designing coordinated plans that work under New York law in 2026 and beyond.
Why New York Demands a State-Specific Plan
Many families assume a will is enough. Under New York law, a complete estate plan requires four interlocking documents:
| Document | Governing Law | Core Purpose |
|---|---|---|
| Last Will & Testament | EPTL §3-2.1 | Direct asset distribution; must be signed at the end by the testator and witnessed by two attesting witnesses |
| Trust (revocable or irrevocable) | EPTL Article 7 | Avoid probate, protect assets, plan for Medicaid’s 5-year look-back, or preserve benefits via an SNT (EPTL §7-1.12) |
| Durable Power of Attorney | GOL §5-1513 | Authorize a trusted agent for financial decisions; New York’s 2021 statutory short form is durable by default |
| Health Care Proxy | NY Public Health Law Art. 29-C | Appoint an agent for medical decisions — legally separate from the financial POA |
Dying without a will means intestacy under EPTL Article 4, letting the state — not you — decide who inherits. Dying without a health care proxy means physicians may not be able to honor your wishes. Both outcomes are avoidable.
New York’s 2026 Estate Tax: The Cliff That Changes Everything
New York imposes its own estate tax independent of the federal system. For deaths occurring between January 1 and December 31, 2026, the basic exclusion is $7,350,000. What makes New York uniquely dangerous is the cliff rule: if your taxable estate exceeds 105% of the exclusion — that is, $7,717,500 — you lose the entire exemption and pay tax from dollar one at progressive rates of 3% to 16%.
New York also has no gift tax, but gifts made within three years of death are added back to the taxable estate for this calculation. Strategic lifetime giving must be timed carefully to stay below the cliff. See the New York State Department of Taxation and Finance for current rate schedules.
An irrevocable trust under EPTL Article 7 remains the most reliable vehicle for reducing a taxable estate below that cliff — and for protecting assets from Medicaid spend-down — because assets transferred to an irrevocable trust are generally removed from your estate (subject to the 5-year Medicaid look-back). A revocable living trust, by contrast, avoids probate but provides no estate-tax savings.
Serving All of New York State
Whether you are updating documents after a life change in Buffalo, planning a special-needs trust on Long Island, or addressing the cliff issue for a Westchester estate, Morgan Legal Group brings the same depth of New York-specific knowledge to every engagement. Learn more about our statewide coverage or explore individual topics:
- Estate Planning Overview
- Wills Under EPTL §3-2.1
- Trusts — Revocable & Irrevocable
- Durable Power of Attorney
- Health Care Proxy
- New York Estate Tax Guide 2026
Ready to build a plan that holds up under New York law? Schedule a consultation with Russel Morgan, Esq. at calendly.com/russel-morgan/30min.
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